The plan will eliminate two major tax types: personal income tax and corporate income and franchise tax. Eliminating income taxes in a revenue-neutral manner and improving sales tax administration will dramatically simplify Louisiana’s tax system and reduce administrative problems for families and small businesses. The effective start date of the program is January 1, 2014. …The plan will ensure revenue neutrality by…[b]roadening the state sales tax base and raising the state rate to 5.88%.

This is a superb plan.

Of all the possible ways for a state to generate revenue, the income tax is the most destructive.

It’s also worth noting that jurisdictions such as Monaco, Bermuda, and the Cayman Islands manage to be very prosperous in the absence of an income tax, though the incredible wealth of these places is partly a function of bad policy elsewhere, so the comparison isn’t perfect.

Anyhow, Gov. Jindal expands on this research with some very powerful data.

Over the last ten years, more than 60 percent of the three million new jobs in American were created by the nine states without an income tax. Every year for the past 40 years, states without an income tax had faster growth than states with the highest income taxes. Economic growth in the nine states without income taxes was 50 percent faster than in the nine states with the highest top income tax rates. Over the past decade, states without income taxes have seen nearly 60 percent higher population growth than the national average. …While we have reversed the more than two-decade problem of out-migration, we can do more to keep people here. Here are a couple of staggering statistics. Between 1995 and 2010, according to IRS data, Louisiana lost $3 billion in adjusted gross income to Texas.

Amen.

I particularly like that he recognizes the power of tax competition as an argument for better tax policy. Taxpayers win when Texas and Louisiana compete to have less oppressive tax systems.

Indeed, this should help explain why I am so fixated on the importance of making governments compete with each other. Simply stated, governments are very prone to over-tax and over-spend if they think taxpayers have no escape options.

So let’s keep our fingers crossed that Gov. Jindal’s proposal gets a friendly reception from the state legislature.

If he succeeds, I imagine he will vault himself to the top tier of Republicans looking to replace Obama.

I was with you until you suggested replacing the federal income tax with a sales tax. We need to eliminate the federal income tax and replace it with NOTHING. The federal government is far too large and intrusive. It’s well past time to starve the beast.

Reblogged this on This Got My Attention and commented:
Get rid of the income tax! Why should the government own a share of your income before you even make a cent? Isn’t that slavery? End the income tax!

this is not an ideological battle of left vs right, GOP vs Dems, Socialism vs liberty. This is ethnic warfare against white people.

Why are hostile globalist elite defending Israel as a Jewish ethnostate with Jewish only immigration, but ravaging white majority Europe, North America into a multi-ethnic, multi-cultural Gulag with dystopian non-White colonization?

Love to all humanity, but White people must unite & organize to advance their families, their fertility, their interests. Reading list:
goo.gl/iB777
goo.gl/htyeq
amazon.com/dp/0759672229
amazon.com/dp/1410792617

Too bad this would never work. Ron Paul has been saying this for years. He has run for president and losr every time because liberals and conservatives destroy him for these types of ideas. The Republican party hates people with ideas of small government, so this guy would have no chance, unless this is the only libertarian view he has and he will replace the income tax woth something else.